Carmignac Portfolio Commodities SICAV ISIN LU0164455502 Equity management

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Recommended minimum investment horizon : 5 years

At 16/11/2017
Michael HULME
Sector Equities
  • NAV : 293.59 €
  • D-1 : +0.34 %
  • YTD : +0.36 %
  • 12 Month : +5.35 %

We continue to favour companies without excessive debt levels capable of generating attractive returns on free cash flow in the long term.

2nd rank in the category natural resources equity fund over 10 years.

€uro Fund Award 2015
Germany
January 2015
All awards

Description

Global equity fund invested in energy, natural resources, and related industrial companies. By combining a fundamental top-down approach and a disciplined bottom-up analysis, the Fund manager aims to select quality companies with attractive long-term growth prospects and sustainable cash flow generation, across the entire commodity value chain. The Fund aims to outperform its reference indicator over 5 years..

Carmignac Global Strategy October 2017

  • Oil prices rallied
  • Emerging equity markets outperformed
  • US yields came under pressure while core European yields eased
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Exposure data

monthly weekly
October 2017
90.98 %
Investment rate
82.46 %
Exposure rate
Week from 3 to 10 Nov 2017
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Management Comments

Global

October 2017

The Fund turned in a positive performance and beat its reference indicator. The prices of oil and most commodities rose, the former largely due to the decrease in global reserves and the strength of demand. In this context, our shale oil producers and explorers (Canadian Natural Resources, EOG Resources, SM Energy) made excellent progress. Our mining companies such as ArcelorMittal (steel), Grupo Mexico (copper) and Lundin Mining (copper) also performed well. Our investments in commodity-related industries were again rewarded with silicon wafer producers Siltronic and GlobalWafers, and pumps and compressors manufacturer Gardber Denver, making the biggest contributions to performance.

Weekly

Week from 3 to 10 Nov 2017

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Legal information

The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.

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